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May 22, 2024
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Bitcoin Price Live: These are the Mandatory Levels That May Trigger a Bull Run Ahead!

The post Bitcoin Price Live: These are the Mandatory Levels That May Trigger a Bull Run Ahead! appeared first on Coinpedia Fintech News

Bitcoin price has been trading flat for the past few days just below the strong sell zone at around $28,800. While the price has been holding these levels tight, some possibilities of a bearish reversal also flutter. Hence diving the price towards the interim support around $25,000 may lead to a fresh influx of liquidity that may uplift the price above the bearish influence. 

Will Bitcoin continue to hover within these areas or will it lead to a notable upswing to reach the threshold levels?

The levels around $28,500 have been battle levels of the token where it gets rejected often. However, the more it tests these levels, the weaker bears may become. Therefore, it is now important for the bulls to maintain their strength which may assist the price to surpass the major resistance levels. 

Also Read : Bitcoin Price Prediction 2023, 2024, 2025: Will BTC Price Mark New High’s In The Coming Days?

Bitcoin has just closed the month on a bullish note post the bullish closes for January & February. The consecutive green monthly closes have usually signaled the reassurance of a bull run ahead. 

Source: Twitter

The above chart indicates BTC price forming more than 3 consecutive bullish candles after a bottom of the bear market, then a notable upswing may kick in that may soar the price to new highs. 

The star crypto was in the range of $60,000 to $32,000 previously from where the price broke down, igniting a nice bear market. Moreover, if the price reclaims the levels at $32,000 on a weekly basis, then the first target may be reached around $43,500 which may further lead the rally towards the next higher target of around $60,400.

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